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Zambia Industrial Commercial Bank has been launched.

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Minister of National Development Planning Alexander Chiteme (right) listening to his Finance counterpart Mrs. Margaraet Mwanakatwe address Zambian diplomats accredited to the USA when they paid a courtesy call on Zambia’s Ambassador to the USA His Excellency Dr. Ngosa Simbyakula in Washington DC on 19 April 2018. Mr. Chiteme and the Minister of Finance Mrs Margaret Mwanakatwe are participating in the IMF/World Bank 2018 Spring Meetings in Washington DC, USA. Mr. Chiteme is the Alternate Governor and Mrs Mwanakatwe is Zambia’s Governor on the World Bank Board of Governors. PHOTO| CHIBAULA D. SILWAMBA | MNDP

The Zambia Industrial Commercial Bank formerly Intetmarket Bank has been launched.

Speaking during the lauch, Finance Minister Margaret Mwanakatwe said the lauch of the Bank is an indication that government is committed to partnering with the private sector in growing the economy.

Mrs. Mwanakatwe added that government wants to see enhance growth of Local businesses and production as it is the only way to creating wealth in the country.

She thanked the Bank of Zambia for successfully restructuring the former Intermarket Bank that was liquidated in November 2016.

and Bank of Zambia Director Bank Supervision Gradys Mposha said the Industrial Commercial Bank managed to secure agreements with large depositors such as the National Pension Scheme Authority and Workers Compensation Fund among others.

And Zambia Industrial Commercial Bank Chairperson Charles Changwe said the Bank expects to play a pivotal role in the success of local businesses.

Source – Lusaka Times